SEC Awards $800,000 to Whistleblower

The Securities and Exchange Commission today announced an award of more than $800,000 to a whistleblower whose information caused the staff to open an investigation that led to two successful SEC enforcement actions. “The whistleblower provided the Commission with a detailed analysis that alerted staff to the underlying securities violations,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “Today’s award again demonstrates the Commission’s commitment to awarding individuals who provide high-quality independent analysis that leads to successful enforcement actions.” The SEC has awarded over $562 million to 107 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.